RGA’s investment platform is a global competitive advantage – deeply integrated with our business, disciplined in risk-taking, focused on maintaining RGA’s financial strength, and purpose-built to win new business while supporting long-term client partnerships.
RGA’s investment approach is to balance risk and return, applying rigorous underwriting and continuous portfolio oversight. In 2025, RGA’s global team continued to invest strategically to support the long-term strength of the enterprise while meeting the evolving needs of clients and partners worldwide. Anchored by a diversified, high‑quality portfolio, the team remained focused on resilience, capital efficiency, and close alignment with liability profiles across geographies, products, and client solutions.
RGA’s asset completion platform remains a core competitive differentiator and a central contributor to new business wins globally. Multidisciplinary teams across investments, actuarial, and underwriting collaborate seamlessly, sharing deep insights into liability characteristics, transaction structures, and risk sensitivities. This integrated approach enables RGA to deliver tailored solutions for both new business and in‑force liabilities with a high degree of certainty, efficiency, and ease of closing for clients – hallmarks of RGA’s execution excellence.
RGA Investments’ differentiated sourcing combines high‑caliber internal expertise across public, private, and alternative assets with strategic external partners that enhance the platform. The team’s private asset capabilities expand the opportunity set, enhance portfolio optimization, and improve in‑force results through expert surveillance, assessment, and execution. Underwriting discipline remains foundational, reflected in a strong and consistent credit track record across both public and private investments.
Strong global asset operations ensure that RGA’s investment capabilities scale seamlessly, execute reliably, and remain fully aligned with our long-term commitments to clients.
Rigorous underwriting and disciplined credit selection are foundational to our success, driving a strong credit track record across public and private assets globally while balancing risk and return.
Built over more than two decades, RGA’s private placements platform expands opportunity, enhances portfolio optimization, and delivers tailored solutions that differentiate our capabilities globally.
RGA had a record year of asset growth, ending 2025 with $135 billion in assets under management, representing 12% annualized growth since 2007. Clients around the world continue to choose RGA for its ability to consistently deliver results and reliably serve as a long‑term partner whose relationships endure for decades.
To highlight one area of the portfolio, RGA’s commercial mortgage loan assets continued to demonstrate strong performance and high credit quality in 2025. The $10.8 billion portfolio remained well diversified by geography, property type, and maturity, supported by conservative leverage, solid cash flow coverage, and experienced RGA real estate leaders who have managed well through cycles. A well‑structured maturity ladder further reduced near‑term refinancing risk.
RGA further broadened its reach through an anchor commitment with FoxPath Capital Partners, a specialist credit secondary investment firm. The partnership increases access to high-quality private assets and enhances portfolio flexibility – advancing a balanced mix of fee, spread, and underwriting earnings drivers across cycles.
Through disciplined execution, underwriting rigor, and operational excellence, RGA’s investment platform continues to enhance diversification, optimize in‑force portfolios, and support the company’s long‑term financial and strategic objectives.